GBP/USD: British Pound fell below 1.29190 support following a decline in December manufacturing data

GBP/USD: British Pound fell below 1.29190 support following a decline in December manufacturing  data

What's going on with the GBP vs USD?

GBP/USD: The Pound has fallen below 1.29190 support following the release of December manufacturing data plus the poor GDP results. The Pound could continue further down to 1.28725 and 1.28428 support if it fails to hold at its 500 EMA in the four hours price chart at1.28980.

My thoughts on what may happen

GBP/USD: The Pound needs to break and hold above 1.29190 to head back to the upside. The pair could continue down to 1.28725 and 1.28428 if it fails to hold above its 500 EMA in the four hours price chart at 1.28980

Support: 1.28980,1.28725, 1.28428, and 1.28044
Resistance:1.29910, 1.29818, 1.30888, and 1.30245

We explain market movements and its potential next move to help and guide you to possibly make the right decision on when to enter, apply stop losses to protect your capital, take profit and exit your position.

Chart 1: The short-term view of the GBP/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points.

GBPUSD

Chart 2: The short-term view of the GBP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

GBPUSD

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